DFW Market Update: Q3 2017


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As the Dallas/Forth Worth Real Estate market continues to strengthen throughout the summer of 2017, our growing Team at Scott Neal Real Estate (SNRE) is currently on a record breaking path to help more families buy/sell their home this year than every other previous year in the company’s history!  We’d like to take a moment and express a huge thank you to all of our past and current clients who have entrusted our team’s services over the last 10 years!  It’s an honor to serve the Dallas Real Estate market and help people with one of the biggest decisions and transactions of their lives- buying or selling a home. 

With the DFW Realty market being one of the hottest in the country and receiving a lot of positive media attention, we are frequently asked what is going to happen in the next year or two.  Since prices have continued to significantly appreciate over the last five years, many people often assume that we are in a bubble and will experience depreciation when the market cools off.  This result remains to be seen but based on historical data in the DFW market, my prediction is that we will eventually level off to normal rates of appreciation.  However, the DFW & the North Texas areas continue to be a haven for stable job growth, population growth, good schools, and room for expansion (new neighborhood developments).  In fact, DFW is said to have anywhere between 300-400 people a day moving here and is one of the top ranked areas in the country for job creation.  

These variables in addition to inventory levels/supply-demand etc are all significant contributors to what we are experiencing today with Median Price, Days on Market, Sold Homes and Months of Inventory which we have broken down below.

Median Price:

Once again, the median price rose almost 11% over the last year to $238,000. This marks four to five years in a row where we have continued to experience double digit price appreciation across DFW.










Days on Market:

In addition to price, homeowners typically want to know how long will it take for them to sell their property. The average days on market to sell a home in DFW has continued to fall from 90 days in 2012 to 41 days in August 2017. So while homes are continuing to sell for a higher price, they are also selling in record time.










Sold Homes:

The real estate market has been in recovery since 2012. We went from selling approximately 70,000 residential units to selling over 110,000 units in 2017. Some of the most sensational news stories around the metroplex have been the influx of out-of-state relocations.  Some recent reports show that 300-400 new people are moving to North Texas every single day.  In fact, we speak with new people from all over the country on a daily basis who sign up on our website looking at properties and wanting to relocate to Dallas for work, family, change of environment, tax benefits, cost of living, weather, home prices in comparison to current situation, and many other reasons making DFW an ideal location for their next home destination.










Months of Inventory

The most important, key economic indicator that expert Real Estate Agents track closely is the level of homes for sale compared to how many homes have sold i.e. “Months of Inventory.” This is an excellent barometer to gauge the strength of the market.  Currently, DFW has the lowest level of inventory since the market peaked in 2007. 










However, home buyers can still take advantage of opportunities despite how hot the market is by aligning themselves with an expert who proactively stays on top of the market and has exclusive access to great opportunities through their years of experience & established network.  And of coarse, sellers are in prime position to capitalize due to everything we discussed above contributing to this “Seller’s Market.”  

If you have been thinking about buying or selling real estate anywhere in the DFW market, contact us today for a private consultation so that we can provide the best advice and options in preparation for your sale or purchase.  Also, our team has an established “Home Hunter System” providing access to exclusive “off market” opportunities through our extensive network in addition to our detailed cherry picking of homes from the MLS fitting your criteria.